Market Size of Kazakhstan Oil and Gas Upstream Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 2.57 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Kazakhstan Oil & Gas Upstream Market Analysis
The market for oil and gas upstream in Kazakhstan is expected to grow at a CAGR of more than 2.57% during the forecast period of 2020 - 2025. Factors, such as increasing natural gas production, and plans to improve oil production are expected to increase the growth for the Kazakhstan oil and gas market, during the forecast period. However, production from large fields like Kashagan field, which are expected to contain significant recoverable reserves estimated at 7 billion to 13 billion barrels of crude oil has high sulfur quantity thereby decreasing its demand and increasing refining cost.
- Onshore projects are expected to remain the most utilized of the deployment locations as they provide for cheaper access to the oil resources. Kazakhstan even though it has vast onshore reserves in the Caspian Sea but due to high levels of hydrogen sulfide and production costs are impeding growth in the Offshore projects.
- There have been significant oil discoveries in southern Kazakhstan. Economically feasible extraction of the oil may become an opportunity for the companies and may lead to a boom in oil production
- An increase in oil production is expected to increase the growth in the sector and be a prominent driver for the industry in the forecast period.
Kazakhstan Oil & Gas Upstream Industry Segmentation
The Kazakhstan oil and gas upstream market report include:
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Kazakhstan Oil and Gas Upstream Market Size Summary
The Kazakhstan oil and gas upstream market is poised for growth, driven by increasing natural gas production and strategic plans to enhance oil output. The market's expansion is supported by the development of onshore projects, which offer cost-effective access to vast oil reserves, particularly in the Caspian Sea region. Despite challenges such as high sulfur content in major fields like Kashagan, which affects demand and increases refining costs, the sector is expected to benefit from significant oil discoveries in southern Kazakhstan. These discoveries present opportunities for economically feasible extraction, potentially leading to a surge in oil production. The reinjection of natural gas into reservoirs to boost oil output further underscores the sector's growth potential.
The market is characterized by a moderate level of consolidation, with key players including National Company JSC (KazMunayGas), Chevron Corporation, and others. The Tengiz field, a major contributor to the country's oil production, is set to expand its capacity, reinforcing the market's growth trajectory. The Caspian Pipeline Consortium Blend, a primary export oil grade, highlights the quality and value of Kazakhstan's crude oil, known for its high yield of gasoline and light distillates. Increased government investment in oil projects has been a significant factor in the rising oil production, positioning the sector as a prominent driver of the country's economic growth during the forecast period.
Kazakhstan Oil and Gas Upstream Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Oil Production and Consumption Forecast, in barrels per day, till 2025
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1.3 Natural Gas Production and Consumption, in million tons of oil equivalent, till 2025
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraint
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1.7 Supply Chain Analysis
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1.8 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Location of Deployment
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2.1.1 Onshore
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2.1.1.1 Overview
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2.1.1.1.1 Existing Projects
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2.1.1.1.2 Projects in Pipeline
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2.1.1.1.3 Upcoming Projects
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2.1.2 Offshore
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2.1.2.1 Overview
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2.1.2.1.1 Existing Projects
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2.1.2.1.2 Projects in Pipeline
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2.1.2.1.3 Upcoming Projects
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Kazakhstan Oil and Gas Upstream Market Size FAQs
What is the current Kazakhstan Oil and Gas Upstream Market size?
The Kazakhstan Oil and Gas Upstream Market is projected to register a CAGR of greater than 2.57% during the forecast period (2024-2029)
Who are the key players in Kazakhstan Oil and Gas Upstream Market?
National Company JSC (KazMunayGas), Chevron Corporation, Karachaganak Petroleum Operating B.V., PJSC Gazprom and Eni S.p.A. are the major companies operating in the Kazakhstan Oil and Gas Upstream Market.
